What Is a Mill Rate?

In Connecticut, property tax rates are expressed in mills, or thousandths of a dollar.

Example:

A property tax rate of 36.86 mills (.03686), when expressed in decimal form) results in the payment of $36.86 for each $1,000 of a taxable property's assessed value.

This is called the mill rate because the number is expressed in mills. One mill is equal to 1/10th of a cent or $.001.